A look at 'Manufacturing 5.0'

Small to midsize manufacturers have to figure out their own path forward when it comes to embracing the next generation of technology.

That's the word from Ned Hill, a professor at Ohio State University, who shared his insights on what he calls Manufacturing 5.0 at Magnet's State of Manufacturing event Nov. 10 at HGR Industrial Surplus.

A "digitally integrated enterprise," as Hill put it, encompasses everything from equipment and production to the tracking of a supply chain to integrating ERP systems with customers. Productivity may increase drastically and mass customization could be possible, he said. Hill is perhaps best known locally as the former dean of Cleveland State University's Levin College of Urban Affairs.

Connecting legacy equipment to this larger system will be important, and companies that can't connect will be left out. And the people creating these systems often aren't thinking of small and mid-size manufacturers, Hill said, so it's on those companies to think about it on their own. He thinks a lot of OEMs will start to take more work internally, trimming their supply chains, thanks in part to 3D printing. Companies should be thinking of how their customers are being affected by 3D printing, as well as how they can use it themselves.

Attendees at the event also heard from Joseph Gross, partner at Benesch, who shared OSHA-related projections, noting that as the administration lacks a permanent leader at the moment, it's difficult to make predictions with any kind of certainty.

He gave the audience a list of standards to focus on, with lockout/tagout being number one. And Mark Wolk, central region manager for Banc of America Leasing and Capital, shared some thoughts on equipment finance. It's a borrowers market right now, he said, and a good time to raise capital.

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